Your Interviews - Feb 2010
Ten minutes with… Ahmed Buhari (MSc Shipping, Trade & Finance 1995)
Ahmed Buhari is Founder, President and CEO of the Coal and Oil group of companies. Coal and Oil is a US$ 500million, India-centric, integrated energy company with interests in coal trading (6m tons), coal mining, ship owning, chartering, logistics and power generation.
Why did you study at Cass?
Cass was the only school offering the programme (Msc in Shipping, Trade and Finance) that I wanted to study. I was once on a flight reading the Economist, where the programme was listed. Once in the programme there was no looking back.
What is your most treasured memory of your time at Cass?
Besides enjoying London, the content of each and every course was very enjoyable. I also enjoyed meeting the diverse groups of students and teachers and learning from them.
Who has most inspired you in your career?
My father. Starting from a tiny little village in a remote part of South India, he went on to build a diverse business empire worth US $5 billion. He also started several educational and charitable institutions.
How has your career developed since you left Cass?
It has grown in leaps and bounds. Right after leaving Cass, I decided to venture out on my own (much to the annoyance of my father). Armed with the New Masters degree I was ready to face the world.
Starting with a small business trading in coal, we are now a US $500 million company with interests in the coal trading, shipping and logistics, as well as Power generation. Our 1200mw power plant will come on stream by 2012, with an investment of about US $1 billion. We are also planning to expand further to another 1200mw shortly, taking up the investment to US $2 billion.
This will make us one of the largest investors in South India, the second largest Industrial hub of India.
What would you consider to be your greatest achievement?
Setting up a company and developing people who can dream and achieve some of the largest projects globally.
At the current pace, we are hoping to surpass US$ 3 billion in the next 5-6 years and grow significantly thereafter. Building the capabilities of our people, our company and our country gives me much satisfaction.
Why did you choose Dubai to launch your business?
There were several reasons for us to start in Dubai.
Firstly Dubai had already been home for a few years before I started my company, so it made sense to start from here. Next it also helped since my fathers company and several family contacts were here. Then there’s the time zone perspective – the ability to transact with the Far East, Australia, SE Asia, India, South Africa, Europe and US on a normal Dubai working day.
Besides the above, setting up a business, recruiting talent, etc were all more cost effective than Singapore, our other choice.
Do you feel that Dubai is in recovery for business?
There is no doubt that Dubai has had its fair share of problems this year. However, it’s a very enterprising City with many creative ideas. So recovery is happening, but slowly.
When a city builds massive infrastructure based on future growth, there is bound to be some time lag before things settle down. Being extra ambitious, Dubai built even more infrastructure, so when the meltdown came, it was hit hard.
However Dubai is the undisputed business and leisure capital of the entire GCC, MENA, and even Pakistan/India. With this region continuing to grow, and with no other comparable city in the vicinity, recovery is inevitable.
What does the future hold for you?
Energizing a billion+ people, with all types of energy…coal, nuclear, hydro, solar, gas etc. Starting charitable and educational institutions – we are already discussing a tie up with Cass and our BS Abdur Rahman University.Starting a hospital, a bank and building my dream homes. And generally having fun…
What advice would you give someone just starting out on their career after finishing their degree?
Get a handle on what you want to do early on. Study your emotions carefully and figure out where your passion lies. Once identified start doing a lot of homework on this…talk to people, start reading, do research. Then land your dream job, career and start building on your vision.
Once you know reasonably well what you want, never ever give up…just keep going on till you get what you want.
What’s your favourite thing to do in London?
It’s more like ‘things’, not one thing. Shopping (Saville Row suits!) eating out in all types of restaurants, clubbing, networking, etc…